Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.26.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
INVESTMENT INCOME:    
Interest, dividend and fee income $ 34,087 $ 33,227
EXPENSES:    
Interest (8,920) (8,243)
Base management fee (5,225) (4,972)
Incentive fee on income (3,099) (2,023)
Incentive fee on capital gains 638 0
General and administrative (1,039) (1,027)
Internal administrative services expenses (186) (174)
Total expenses before expense waivers (17,831) (16,439)
Waiver of incentive fee on income 985 0
Total expenses, net of expense waivers (16,846) (16,439)
NET INVESTMENT INCOME BEFORE TAXES 17,241 16,788
Excise tax expense (50) (192)
Federal and state income and other tax expenses (956) (850)
NET INVESTMENT INCOME 16,235 15,746
NET REALIZED GAIN (LOSS):    
Total net realized loss (241) (21,066)
NET UNREALIZED APPRECIATION (DEPRECIATION):    
Total net unrealized appreciation (depreciation) (2,643) 18,783
Income tax benefit (provision) on net realized loss and net unrealized appreciation (depreciation) (128) 2,412
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 13,223 $ 15,875
NET INVESTMENT INCOME PER SHARE— BASIC (in dollars per share) $ 0.35 $ 0.35
NET INVESTMENT INCOME PER SHARE— DILUTED (in dollars per share) 0.35 0.35
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—BASIC (in dollars per share) 0.29 0.36
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—DILUTED (in dollars per share) $ 0.29 $ 0.36
WEIGHTED-AVERAGE SHARES OUTSTANDING—BASIC (in shares) 46,116,898 44,680,084
WEIGHTED-AVERAGE SHARES OUTSTANDING—DILUTED (in shares) 46,116,898 44,680,084
Control investments    
INVESTMENT INCOME:    
Interest, dividend and fee income $ 1,195 $ 1,442
NET REALIZED GAIN (LOSS):    
Total net realized loss 0 9
NET UNREALIZED APPRECIATION (DEPRECIATION):    
Total net unrealized appreciation (depreciation) (4,452) (833)
Affiliate investments    
INVESTMENT INCOME:    
Interest, dividend and fee income 9,247 9,335
NET REALIZED GAIN (LOSS):    
Total net realized loss (1,656) 0
NET UNREALIZED APPRECIATION (DEPRECIATION):    
Total net unrealized appreciation (depreciation) 8,423 2,836
Non‑Control/Non‑Affiliate investments    
INVESTMENT INCOME:    
Interest, dividend and fee income 23,645 22,450
NET REALIZED GAIN (LOSS):    
Total net realized loss 1,415 (21,075)
NET UNREALIZED APPRECIATION (DEPRECIATION):    
Total net unrealized appreciation (depreciation) $ (6,614) $ 16,780